Germany's K+S Q2 net income surges to €138.2m

14 August 2012 09:08[Source: ICIS news]

SINGAPORE (ICIS)--K+S's net income surged to €138.2m ($170.6m) in the second quarter of this year from €28.7m in the same period a year earlier as revenues rose by 21%, the German firm said on Tuesday.

Its sales rose to €996.5m in April-June this year, buoyed by a “volume-related revenue increase” in the firm’s potash and magnesium products business segment, the company said in a statement.

The company’s earnings before interest, tax, depreciation and amortisation (EBITDA) were up by 16.4% year on year at €275.8m in the second quarter, the company said.

For the first six months of 2012, the company’s net profit rose by 8.74% year on year to €350.6m, while sales was down by 2.11% at €2.08bn.

Looking ahead, the company expects to remain stable for the full year of 2012, while EBITDA are expected to post a “moderate decrease”, it added.